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A management shakeup at Lyft (LYFT) is reigniting the battle for the rideshare market. Lyft's cofounders, Logan Green and John Zimmer are set to step down from their day-to-day roles as CEO and president next month, taking the helm in their stead is former Amazon (AMZN) executive David Risher. In an interview with Yahoo Finance's Brian Sozzi and Rachelle Akuffo, Risher said the company's top priority is providing a great experience for its customers. To do this, Risher says Lyft has to get the basics right, which for riders means an on-time pickup, pricing in line with the competition and getting where they need to go. When asked about opportunities for cost cuts Risher said, "Efficiency is also in the air... I'm very, very comfortable with the idea that you can sort of get twice the team, you know, without twice the people." Key video moments: 00:00:27 David Risher's priorities for Lyft 00:01:45 Competition with Uber 00:06:40 The possibility of a Lyft sale Watch our full conversation with David Risher here.
Yahoo Finance Live anchors Julie Hyman and Brad Smith discuss reports that Amazon is interested in acquiring AMC.
Shares of Amazon (NASDAQ: AMZN) were gaining today, seemingly on rumors that the company was considering a surprising acquisition. According to a report in the entertainment website The Intersect, Amazon founder Jeff Bezos has dispatched advisors to explore an acquisition of AMC Entertainment Holdings, the world's largest movie theater chain. As of 11:28 a.m. ET on Wednesday, Amazon stock was up 2.5%, likely benefiting from broad gains in the market as well, as the Nasdaq was up 1.2% at the same time.